Projects Financed By African Bank in Egypt Fruitful - OfficialSource: www.export-egypt.com 6/12/2019, Location: Africa |
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Vice President of the African Development Bank Khaled Sherif said all projects financed by the bank in Egypt are fruitful within the framework of the successful economic program carried out by the Egyptian government.
Speaking to MENA on the sidelines of the annual meetings of the bank, he said the bank offered Egypt over the past five years loans and grants worth 3.7 billion dollars to carry out 14 projects in the domains of sanitary drainage, energy and human development. He said the bank contributed to rendering Egypt's economic program a success through offering a 1.5-billion-dollar loan to boost the national economy, especially during the Egyptian pound floating time. He said the Egyptian economy achieved a 4.7-percent growth rate in 2018 and the unemployment and inflation rates are declining thanks to the country's effective economic reforms. He unveiled the bank's plans to finance an energy project in Egypt by 300 million dollars, hoping an agreement in this regard would be reached by the end of the year. |
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